Zerorin Aiming To Become Your Personalized Debt Manager

The only inheritance most of the Indian families ever get passed on to is Debts. It has always been an integral part of almost every Indian from the middle class to the poor families. Not that the rich people do not have any debts, but they do have robust Financial Managers to help them navigate through the problems and loopholes of laws, bringing them on top almost every single time. We all wish that we too could have such ideas, suggestions and action plans, to make our lives debt free, and making us all a little more financially responsible.

That is where Zerorin jumps in. It is a debt management app designed to help users effectively manage and clear their debts. Whether it’s a home loan, credit card debt, or personal loan, Zerorin enables users to track all their loans in one place and receive personalized, step-by-step guidance on how to pay them off. Ideal for anyone looking to maintain control over their personal finances, Zerorin claims to simplify the entire loan repayment process by providing clear strategies and actionable insights to help users achieve their financial goals. By offering tailored advice and robust tracking features, Zerorin stands out as a valuable tool for financial health and debt management.

We had a detailed talk with Madan Baral, one of the founders of Zerorin, about the ideas, goals, and vision of their fintech, and understanding the challenges they are facing as a startup. Do read the detailed interview conducted by Desi Founder Team.

Desi founder: Tell me about the origin of Zerorin. How did you come up with the idea?

Zerorin: Growing up in a middle-class family, I witnessed firsthand the struggles associated with loans and debts. We used to have loans, be it smaller or bigger. So since childhood I have been part of the loan and debt-trap. I know the exact discussions that happen at the dinner table. The discussions are always painful. When you plan some trips or simply pursue higher studies the discussions always get stuck on loan. Luckily we were able to clear them off before the tenure and we learned a lot of lessons during this loan clearance process. Though I became debt free there are millions of people who needs help in managing their loan and guide them on how to clear it. So I decided to help other people who are facing similar problems and hence Zerorin was born.

What problem does Zerorin solve? How does Zerorin address the pain points related to debt management and financial health?

Let me ask you one thing, Have you ever heard the statement “I earn enough but I don’t know where the money goes“? This is one of the pain points Zerorin helps in. Zerorin takes your financial details, analyzes it and provides you with the status of your current financial health and tips on how to improve it. Loan clearance is another core area where we focus on. Zerorin provides strategies on how you should clear your loan. It also helps you in creating the budget. In future we have plans to track the debts and alert you if you have overspent. This is perfect for anyone who wants to be debt free and achieve their financial goal.

How does Zerorin work? Can you walk me through the user experience? A basic overview of the app’s features and functionalities.

Users start by signing up through a simple and quick process. Once registered, they input their financial details, including debts, income, savings, and expenses. The app then analyzes this information to provide a detailed financial health status. If the user has a loan, Zerorin generates a tailored payoff strategy, which can be customized as needed. This seamless process ensures users receive actionable insights and personalized financial plans.

How do you personalize budgeting plans for users with tailored financial advice to individual circumstances?

Users provide their financial details, which the app analyzes to create customized budgeting plans based on their unique financial situations and goals. While Zerorin does not offer direct financial advice, it provides comprehensive guidance to help users manage their finances effectively.

What metrics or indicators does Zerorin track to measure progress, helping users monitor their journey toward a debt-free future?

Zerorin tracks various metrics to ensure a smooth user experience and app effectiveness. The most critical metrics include the total amount of debts tracked and the amount of debt cleared with our assistance. These metrics are essential for understanding our impact and refining our services to better meet user needs.

How does Zerorin analyze users’ current financial health assessment methods to provide insights to customers?

We have developed a sophisticated algorithm that analyzes the financial data provided by users. This algorithm evaluates their financial health and provides insightful feedback. Additionally, our AI forecasting tool predicts spending behavior and offers forward-looking insights, helping users make informed financial decisions.

What sets Zerorin apart from other debt management apps or services? What is your USP?

Zerorin’s unique selling proposition lies in its comprehensive debt clearance strategies and detailed financial analysis. These powerful features distinguish us from other debt management apps. As we continue to develop our app, we will introduce additional innovative features that will further enhance our competitive edge.

What challenges did you face while building Zerorin, and how did you overcome them?

As an early-stage company, our primary challenge has been ensuring our app effectively simplifies users’ finances, and helping reduce the financial stress. These things will get validated as we continue working with our users.

What are some of the challenges you are facing in running and scaling this site? How do you plan on marketing it?

Scaling is challenging for any startup. Even good projects fail if they aren’t able to scale. Here in Zerorin, we are not focusing much on scaling at the moment. Our current focus is helping our existing users solve their issue and provide the expected value that they are expecting from this app. Once we achieve this, scaling will become more manageable, supported by insights from our initial user base. Marketing efforts will intensify post-validation, leveraging user satisfaction and feedback.

How do you manage work-life balance while running your business?

For any founder, staying calm is key. Sometimes work goes smoothly, you will achieve milestones and you will feel excited. Next day, things start to go south. I have worked with multiple startups before. The startup journey will never be smooth. There will be lots of ups and downs so as a founder you have to stay prepared for both. I avoid overworking, plan meticulously, and stick to the plan to prevent burnout. This balanced approach helps me stay focused and maintain productivity.

What was your first major breakthrough?

For an early-stage company, validating the initial idea is a significant milestone. We have successfully achieved this validation and are now working towards our next major breakthrough, which will unfold as we continue to progress.

Could you describe a typical day at Zerorin?

We are a small team and because of that managing a team is pretty easy. All of them are professionals in their work. Normally we start the day with a typical office meeting and plan what needs to be done today. After that we simply focus on work. Majority of our hours are focused on talking with our users.

Looking ahead, what are your future plans for Zerorin?

Our immediate plan is to launch the beta version of our mobile app, with limited access for users who join our wait-list. If you are interested, do join our wait-list. Post launch, we will enhance the product based on user feedback. Following the beta phase, we plan to raise funds to support further development and scaling.

What advice would you give to other entrepreneurs looking to start a financial platform?

While I can offer more comprehensive advice in the future, my current recommendation is to take action and start your venture. As the famous sneaker brand tagline says, “Just do it.” hahaha.

That will be a wrap of the interview. Hope you enjoyed reading it, as much as we enjoyed creating it. If you too have an interesting Founder Story to share it with the world, please feel free to submit a request here.